10th mar, 2010

Hong Kong initiative supports IP strategy and financing

Managing IP has an interesting bit about a Hong Kong initiative called Intellectual Capital Management (ICM). The initiative is a consultancy service jointly launched by the Innovation and Technology Commission and the Trade and Industry Department, targeting small and medium enterprises. The Program will provide an ICM consultant who will visit your company twice and:
·         help you to become aware of your intellectual assets
·         help you to identify and mitigate risks relating to those assets
·         assist you to make plans for exploiting your assets in a more disciplined manner, and
·         assist you to create an Intellectual Capital Report for your organisation
The intellectual Capital Report is an interesting initiative because it involves assessing your IP, putting a value on your IP and defining risks.

 

The valuation is purely qualitative and not involving economic values, but nevertheless a good start. The second part actually is also quite interesting since it puts a face on the consequences on the risks associated to your IP. For the last three years I have worked with implementing risk based planning in the Danish public sector and know what benefits such an approach have. Adding the risk factors is an easy and very visible contribution to your prioritization. If for example the greatest risk is losing the knowledge of your employees your IP strategy should tackle that problem by implementing processes codifying that knowledge and protecting it – fx by patents.
The benefit of the project is that a number of Hong Kong banks are participating and are offering more favourable financial services (loans and such) to businesses using the ICM programme. So not only do you get valuable insight in your company’s IP you also get financial benefits.

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